Sprinklered Warehouse with Overhead
For Sale
Contact for pricing
41001 Grand River Ave, Novi, MI 48375
Fully sprinklered warehouse offering 24-foot clear height, five overhead doors, and a 1,000-amp 480-volt power service.
Property Size34,581 SF
Price / SF$114.22
Days on Market88
Property Features for 41001 Grand River Ave
General Information
Standard status
Active
Size
34,581 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Clear Height
24 ft
Heavy Power
Yes
Sprinkler System
Yes
Amenities
cranes available
Listing Agency:
Newmark Knight Frank Detroit
(248) 357-6578
Listed By:
Dan Labes
(248) 357-6578
Source:
Moodyscre
Added: May 25
Changed: Aug 11
Last Checked: Aug 20 at 12:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark Knight Frank Detroit
Investment Insights
Based on property information with market context.
This warehouse features a fully sprinklered building with 24-foot clear ceiling height. The facility is serviced by a 1,000-amp, 480-volt power supply and includes five 14’ x 14’ overhead doors. Cranes are available to support material handling needs, and the property provides ample, expandable parking for vehicles and equipment.
The asset is positioned for strong visibility along Grand River Avenue, with convenient access to I-696 and I-96.
With its overhead door count, clear height, power capacity, and sprinkler protection, the space is designed to support a range of warehouse and light industrial operations that benefit from truck access and overhead handling.
The asset is positioned for strong visibility along Grand River Avenue, with convenient access to I-696 and I-96.
With its overhead door count, clear height, power capacity, and sprinkler protection, the space is designed to support a range of warehouse and light industrial operations that benefit from truck access and overhead handling.
Key Highlights
- 24’ clear ceiling height in a fully sprinklered warehouse
- Five 14’ x 14’ overhead doors for loading and access
- 1,000‑amp, 480‑volt power service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$208,051
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,161,020
$4.2M
Cap Rate 7%
$2,972,157
$3.0M
Cap Rate 9%
$2,311,678
$2.3M
Market Conditions
NOI Build-Up for 34,581 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$254.2K $7.35/SF
− Vacancy
−$9.4K −$0.27/SF
EGI
$244.8K $7.08/SF
− OpEx
−$36.7K −$1.06/SF
NOI
$208.1K $6.02/SF
Area
Oakland County, MI
Vacancy
3.70%
Lease Rate
$7.35 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,161,020
Cap Rate 7%
$2,972,157
Cap Rate 9%
$2,311,678
Alternative Uses
Best Use
Warehouse
$2.97M
$2.60M – $3.47M
NOI $208,051 @ 7.0% cap · market cap 5.27%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$7.46M
$6.53M – $8.70M
NOI $522,118 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48375, MI
23,237
Population
10,223
Households
2.3
Avg Household Size
40
Median Age
63%
College-Educated
98%
High-School Grad
8.4 sq mi
ZIP Area
2,766
Density / Sq Mi
$112,978
Median Household Income
$70,326
Median Earnings
$1,880
Median Rent
$348,900
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CubeSmart Self Storage — 24985 Haggerty Rd, Novi, MI 48375
Frequently Asked Questions
What type of property is this?
Warehouse - Fully sprinklered warehouse offering 24-foot clear height, five overhead doors, and a 1,000-amp 480-volt power service.
Where is this warehouse located?
The property is located at 41001 Grand River Ave Novi, MI.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: 24’ clear ceiling height in a fully sprinklered warehouse; Five 14’ x 14’ overhead doors for loading and access; 1,000‑amp, 480‑volt power service
